Kookmin Bank Lowers Mortgage and Jeonse Loan Interest Rates by up to 1.3%P

[Asia Economy Reporter Buaeri] KB Kookmin Bank will lower the interest rates on mortgage loans and jeonse deposit loans by up to 1.3 percentage points starting from the 26th.

According to KB Kookmin Bank on the 18th, KB mortgage loans will be reduced by up to 1.05 percentage points based on the new COFIX rate. The KB mortgage loan outstanding balance COFIX will also be adjusted downward by up to 0.75 percentage points.

For jeonse deposit loan products, the interest rates for KB Housing Jeonse Deposit Loan, KB Jeonse Security Loan, and KB Plus Jeonse Deposit Loan will be lowered. In particular, the KB Jeonse Security Loan will be reduced by up to 1.3 percentage points based on the new COFIX rate, and the KB Plus Jeonse Deposit Loan will decrease by 0.9 percentage points based on the outstanding balance COFIX.

Earlier, at the end of last month, KB Kookmin Bank had already lowered the interest rates on mortgage loans and jeonse deposit loans by up to 0.5 percentage points and 0.75 percentage points, respectively.

A KB Kookmin Bank official said, "We decided to further reduce interest rates to fulfill our social responsibility as a corporate citizen by alleviating the interest burden on financial consumers during the period of rising interest rates and contributing to the stabilization of the low-income economy."